*ISLAMABAD – The Central Directorate of National Savings has increased theprofit rates on schemes by 1% with effect from November 1.*
The profit rate for savings account has gone up by 1% and investors willnow get a return of 7% on these certificates with effect from November 1.This means that if you invest Rs100,000 in a savings account, you will getan annual return of Rs7,000 under the new rates.
The rates of short-term saving certificates have also gone up by nearly 1%.Three-month certificates will now offer a return of 8.28% while thesix-month and 12-month certificates will offer a profit of 8.38% and8.48%, respectively.
Similarly, rates for the Behbood Savings Certificates, Pensioner BenefitAccounts, and Shuhada Family Welfare Accounts have been raised to 11.88%,up by 0.96%. Defense savings schemes will offer a 10.03% return followingan increase of 0.98%.
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With more than seven million investors, National Savings is the largestinvestment and financial institution in Pakistan with over Rs3.4 trillionin its kitty. People can invest in its products through its 376 branchesacross Pakistan.
